Optimal Ordering and Transfer Policy for an Inventory System with Time Dependent Holding Cost and Three Component Demand Rate

Bindu Vaish, Garima Garg

Abstract


This paper deals with an ordering-transfer policy to determine the retailer’s optimal order quantity and the number of transferred units from the warehouse to the display area. It is assumed that the amount of display space is limited and the demand rate depends on the selling price, instantaneous displayed stock level and the frequency of advertisement. The objective is to maximize the average profit per unit time yielded by the retailer. Numerical examples are presented to illustrate the model and the sensitivity analysis is also reported.


Full Text: PDF DOI: 10.5539/jmr.v3n2p212

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.

Journal of Mathematics Research   ISSN 1916-9795 (Print)   ISSN 1916-9809 (Online)

Copyright © Canadian Center of Science and Education

To make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.